The Approval Date for the Project Is the Project Start

question 92

True/False

The approval date for the project is the project start date.

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Definitions:

Federal Income Tax

The tax levied by the Internal Revenue Service on the annual earnings of individuals, corporations, trusts, and other legal entities.

FICA Tax

A U.S. federal payroll tax that funds Social Security and Medicare, requiring contributions from both employers and employees.

FUTA Tax

A federal tax in the United States imposed on employers to fund state workforce agencies and unemployment insurance.

Net Pay

Net pay is the amount of money an employee takes home after all deductions, such as taxes and retirement contributions, have been subtracted from the gross salary.